The Ramelius Offer

Should you require any further information about the Ramelius Offer, please contact the Explaurum Shareholder Information Line on 1300 362 398 (within Australia) or +61 2 8355 1004 (outside Australia between 8:30am and 5:00pm (AEDT) Monday to Friday.

The Ramelius Offer

Explaurum urges shareholders to TAKE NO ACTION and ignore all correspondence from Ramelius Resources in relation to its takeover offer for Explaurum until a formal recommendation is provided by the Explaurum Directors.

TAKEOVER OFFER FROM RAMELIUS RESOURCES - TAKE NO ACTION

Explaurum shareholders are advised to TAKE NO ACTION in relation to the Ramelius Offer or any correspondence received in relation to it until they have received the formal recommendation from the Explaurum Directors. Explaurum’s Target’s Statement is expected to be released to the ASX and mailed to Explaurum shareholders by mid-October.

The initial view of the Explaurum Board is the Ramelius Offer is wholly inadequate for reasons including:

It grossly undervalues Explaurum's Tampia gold project on a standalone basis.This is supported by the highly opportunistic timing ahead of the expected release of a maiden Resource Estimate and Preliminary Development Study for the shallow, high-grade Mace supergene gold mineralisation, immediately west of the Tampia deposit, followed by the Bankable Feasibility Study for Tampia, inclusive of Mace, in November.

Explaurum shareholders are being asked to heavily dilute their exposure to Tampia, a high-grade open-pit development with forecast low operating costs and significant potential resource upside. In exchange Explaurum shareholders are being asked to accept predominant exposure to two mature and higher cost production assets with short reserve lives owned by Ramelius.

The purported benefits underpinning the Ramelius Offer are highly opaque given the ongoing uncertainty about how Tampia may fit into Ramelius’ operating strategy at its Edna May operation, located 140km from Tampia. Ramelius has stated this can only be determined following a Strategic Review.